Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Punjab CM Bhagwant Mann (48) has a second marriage on Thursday. He will take rounds with Dr. Gurp
Today, a full month has passed since the case of rape and murder of a female trainee doctor in We
The Delhi government has accused Haryana of conspiring to give water to Delhi. Water Minister Ati
COVID-19: 1190 new corona cases in India in 24 hours, active cases reduced to 16243
1,190 new cases of corona have been reported in India. With this, the active cases of corona in t
India's astronaut Shubhanshu Shukla has returned to Earth on Tuesday. His crew also returned with
The two-day first All India State Ministers Annual Conference on the theme 'Water Vision 2047' ha
Shraddha Kapoor: Fans upset with Shraddha Kapoor's cryptic post, asked if the account was hacked?
Bollywood actress Shraddha Kapoor is very active on social media. She keeps sharing things relate
Nepal's Prime Minister and Nepali Congress President Sher Bahadur Deuba have won the election fro
Prime Minister Narendra Modi along with Union Education Minister Dharmendra Pradhan reached Bhara
Amazon Layoffs: News of layoffs in Amazon, Ministry of Labor called the company's office to answer
E-commerce giant Amazon is preparing for massive layoffs globally. This process of retrenchment c
